4th quarter transactions total more than 2.77 million square feet
(Indianapolis, Ind. – Feb. 18, 2011) Duke Realty Corporation’s (Duke Realty) Central Indiana leasing group closed transactions totaling more than 2.778 million square feet in transactions during the fourth quarter of 2010, bringing its total production for the year to more than 9 million square feet.
“Our team had very high volume in the fourth quarter, successfully closing several building and land sales, establishing new client relationships, retaining many of our long-term customers and, in many cases, meeting existing tenants’ increased space requirements,” said Charlie Podell, Senior Vice President of Duke Realty’s Indianapolis office. “The quality of our central Indiana office and industrial portfolio, along with Duke Realty’s financial stability and solid reputation in the market, helped us sustain momentum throughout the year.”
Duke Realty’s office leasing representatives Traci Kapsalis and Adam Seger, along with its industrial leasing team of Mark Hosfeld, Jay Archer, Glenn Davis and Kate Willen, represented Duke Realty in all of its transactions. Among the team’s most notable transactions in the fourth quarter were:
Merrill Lynch, a financial management and advisory company, renewed and expanded its space in Five Parkwood Crossing. The company, a long-term Duke Realty customer, now occupies 39,148 square feet.
Morgan Stanley Smith Barney, a wealth management firm, increased its leased space to 28,267 square feet in Eight Parkwood.
American Family Insurance, an insurance provider, also renewed its lease with Duke Realty and now occupies 35,911 square feet in Nine Parkwood Crossing.
Lake City Bank, a Warsaw, Indiana-based financial institution, purchased 1.85 acres in Parkwood West.
Baker and Daniels, an Indianapolis law firm, renewed its lease of 34,660 square feet in Six Parkwood.
DA Lubricant, an Indianapolis-based company that provides liquid lubricating products to the commercial industry, purchased 22.9 acres in Lebanon Business Park and selected Duke Realty to construct a new 225,000-square foot industrial facility for its operations.
Brightpoint, a global leader in the distribution of wireless devices, purchased a 533,000-square foot building and 29.7 acres of land in AllPoints Midwest Business Park, a Browning/Duke industrial development.
Willoughby Industries, a manufacturer of stainless steel and solid surface plumbing products purchased Building 65, a 257,600-square foot building in Park 100 for its manufacturing operations.
Firestone Diversified Products, whose building and industrial products groups, will operated in the facility leased 67,200 square feet at Exit 5 Business Park.
In a new lease, Genco, a third-party logistics provider, will occupy all of Plainfield Building V, a 426,326-square foot industrial building.
Hat World, a sports hat provider, expanded its operations with a 143,752-square foot lease in Park 100, Building 87.
Harding Group, a commercial printing provider, renewed its lease and expanded its square footage, raising its total occupancy to 110,000 square feet in Park 100, Building 91.
NSK, a manufacturer of rolling bearings, automotive products, and precision machinery and parts, renewed its lease of 136,000 square feet in Plainfield Building 2.
Community Health Network, an Indianapolis-based healthcare provider, renewed its lease and expanded its space in Exit 5 Business Park. Community Home Health Services, Inc.’s occupied space in the building, which is used for home healthcare operations, is now 40,298 square feet.
Three companies, all of which have been anchor tenants since their buildings opened, opted to keep their operations in Lebanon Business Park, occupying a total of 767,000 square feet. Aurora Parts, a trailer parts provider, renewed its 309,000 square foot lease in Building 14; General Cable, a manufacturer of copper, aluminum and fiber optic wire and cable, renewed its lease of 305,000 square feet in Building 6; and AAF, a manufacturer of air filtration products, renewed its 153,000-square foot lease in Building 1.
About Duke Realty
In Central Indiana, Duke Realty owns or manages more than 28 million square feet of industrial, office or medical office space.
On a nationwide basis, Duke Realty owns and operates more than 139 million rentable square feet of industrial, office and medical office space in 18 major U.S. cities. Duke Realty Corporation is public traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at dukerealty.com.
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